Avoiding the Unthinkable Consequences of the Euro's Demise

Soros urges decisive action to avoid a "fiasco" at this week's EU Summit.

Global markets resumed their swoon Monday with a 1.5% drop after a short-lived respite Friday following last Thursday's 2.2% blood-letting as anxiety continues to build that this week's European Union summit meeting will fail, yet again, to produce a solution for Europe's debt crisis.

The unraveling of the euro, once thought to be an impossibility, increasingly is being considered to be possible. And if the consequences turn out to...